The Japanese group — which develops solar projects and provides PV systems solutions, in addition to EPC and O&M services — has warned of “substantial doubt” over its “ability to continue as a going concern,” largely due to the decline of its nuclear business in the U.S.
The Japanese equipment provider reported a profit of JPY 151 million ($1.3 million) for the first half of the current fiscal year. Revenue grew 231.3% year-on-year to JPY 2,227 million ($20.0 million).
The Chinese PV manufacturer fell from a 2015 net profit of 16.4 million yuan ($2.4 million) to a net loss of 239.1 million yuan in the year to the end of December 2016.
The Chinese solar power company has signed an inaugural dual-tenor green project bond with Goldman Sachs Japan to aid the construction of its Gunma Aramaki solar power plant.
The JPY 4 billion credit facility with Japan’s Sumitomo Mitsui Finance and Leasing Company will be steered towards solar project development in the country.
The U.S. private equity firm has announced more than $120 million of additional investments in the Japanese solar market.
In the wake of 2011’s Fukushima nuclear disaster, Japan’s electricity sector underwent a complete overhaul, and has now reached a milestone. It is determined to usher in more renewables and a policy push is set to assume a vital role.
The Japanese clean energy developer has broken ground on a new large-scale installation in Tochigi Prefecture – one of three such projects the company is embarking on in the region.
The Tokyo-based developer and MUL Energy Investment — a unit of Mitsubishi UFJ Lease & Finance — have purchased a project company from conglomerate Marubeni.
SPI Solar Japan, a wholly owned subsidiary of the Chinese PV group, has agreed to sell its entire interest in land and project development rights for 4.8 MW of PV capacity near Tokyo.
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